ASB Predicts Strong Market

House prices picked to keep rising
By Brian Fallow
Friday Aug 15, 2014

Rate rises fail to dampen enthusiasm in the property market amid tight supply of homes.

Expectations of house price rises – especially in Auckland and Christchurch – remain high. Photo / Dean Purcell
Rising interest rates have yet to dent people’s expectations that house prices will continue to rise over the year ahead, especially in Auckland and Canterbury.

ASB’s quarterly survey of housing market sentiment found a net 49 per cent expected house prices to rise over the next 12 months, virtually unchanged from 48 and 47 per cent in the previous two quarters and historically high by the standards of the 18-year-old survey.

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